Is IRA protected against creditors like 401(k) is ?
I have a client asking if his IRA is protected like his 401(k) is against creditors. Does it vary from state to state? Do you know where I can refer this client to get usefull information. Thank you for your help
Permalink Submitted by Alan Spross on Wed, 2009-04-01 22:33
IRA protection is not quite up to the ERISA protection granted to certain employer plans, and it varies from state to state and how a state relates to the federal bankruptcy protection afforded IRAs. Here is a link to the various states, last updated to 5/07:
http://www.assetprotectionbook.com/state_resources.htm